We’re excited to announce the launch of a powerful new feature in Avaza: the Retainer Subscription module. This addition is designed to streamline your billing processes, improve cash flow management, and enhance how you work with clients on a recurring basis.
What is a Retainer Subscription?
In many industries, especially those that offer consulting, design, or ongoing project work, businesses often need to secure payment in advance for their services. This is where a retainer comes in handy. A retainer subscription is an agreement where clients pay in advance for future work, ensuring that your business is compensated before services are delivered.
The new Retainer Subscription module in Avaza takes this concept a step further by automating the entire process. With this feature, you can set up a recurring schedule where retainer invoices are generated automatically, prompting your clients to make an advance payment. Once this payment is made, it is held as credit, which can then be applied to regular invoices as the work is completed.
Why Use Retainer Subscriptions?
Retainer subscriptions offer several key benefits for your business:
- Improved Cash Flow: By receiving payments upfront, you ensure a steady cash flow, which is crucial for managing expenses and investments in your business.
- Client Commitment: A retainer subscription solidifies the client’s commitment to ongoing work, giving both parties a clear understanding of the financial and service expectations.
- Simplified Billing: Automating the retainer invoicing process reduces administrative overhead and ensures that billing is consistent and timely.
- Flexibility: The credit generated from retainer payments can be applied to a variety of services, including tracked time, expenses, fixed fees, and more, giving you the flexibility to adjust as work progresses.
Key Features of the Retainer Subscription Module
- Automated Retainer Invoicing: Set up a recurring schedule to automatically generate retainer invoices. Whether you need invoices sent monthly, quarterly, or on a custom schedule, Avaza has you covered.
- Customizable Invoice Templates: Use Avaza’s robust invoice template system to create retainer invoices that reflect your brand. You can also set default templates for your clients, ensuring a consistent and professional presentation.
- Retainer Credit Management: Track retainer credits in real-time as they are applied to regular invoices. This ensures you and your clients are always on the same page regarding available credit and payments made.
- Retainer Credit Expiry Option: Expire unused retainer credits based on your terms and conditions, and easily manage these credits.
- Detailed Retainer Statements: Generate comprehensive retainer statements that provide a clear view of all transactions, including payments received, credits applied, and remaining balances. These statements can be easily shared with your clients for transparency and trust.
How to Get Started
Activating the Retainer Subscription module in Avaza is simple:
- Navigate to the General Settings page and enable the Retainer Subscription feature.
- Set up your retainer subscription profiles under Invoices > Retainer Subscriptions.
- Customize your settings, including invoice templates, prefixes, and send times, to align with your business needs.
- Start creating retainer subscriptions and watch as Avaza automates the process, helping you focus more on delivering excellent service and less on administrative tasks.
Stay Ahead with Avaza
At Avaza, we’re committed to providing tools that make your business operations more efficient and your client relationships stronger. The Retainer Subscription module is just one of many ways we’re helping you stay ahead in today’s competitive landscape.
If you’re ready to improve your billing process, log in to your Avaza account and explore the Retainer Subscription module today. Our detailed support guide provides step-by-step instructions. Our support team is always here to help if you have any questions.
Thank you for continuing to choose Avaza as your trusted business management platform. We can’t wait to see how you’ll use this new feature to enhance your business!
Regards,
The Avaza Team
